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Updated almost 8 years ago on . Most recent reply

Cliff T.'s profile image
Cliff T.'s profile image
Cliff T.
  • Rental Property Investor
  • from San Francisco, CA
  • Member since Nov 25, 2016
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Cliff T.'s profile image
Cliff T.'s profile image
Cliff T.
  • Rental Property Investor
  • from San Francisco, CA
  • Member since Nov 25, 2016
Connect
Cliff T.
  • Rental Property Investor
  • San Francisco, CA
42
Votes |
215
Posts
Buying & Selling Real Estate

Using gifted money for all-cash purchase?

Cliff T.
  • Rental Property Investor
  • San Francisco, CA
Posted

Hey all - quick question that I haven't been able to find the answer to...

Can I use gift money (from parents, friends, family, etc.) when completing an ALL-CASH home purchase?

I recognize there are complications when using gifted money for a down payment and taking out a loan. However, I'm not clear if this applies to all-cash purchase.

Thanks!

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Logan Allec's profile image
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Logan Allec
  • Accountant
  • from Los Angeles, CA
  • Member since Nov 3, 2014
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Logan Allec's profile image
Logan Allec's profile image
Logan Allec
  • Accountant
  • from Los Angeles, CA
  • Member since Nov 3, 2014
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Logan Allec
  • Accountant
  • Los Angeles, CA
977
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Logan Allec
  • Accountant
  • Los Angeles, CA
Replied

@Cliff T., there are no such restrictions on all-cash purchases.  Enjoy your good fortune!

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